Tag Archives: drop

Delays aid Dubai rents keep flat in 2015 sales costs drop

DUBAI Dec 14 The delayed handover of about 6,000 houses in Dubai has helped rents remain flat so far in 2015 even though residential sales prices have fallen a lot more than 10 percent, sector consultants CBRE stated on Monday.

Dubai’s genuine estate sector has stuttered this year following a rebound close to the peak values of the previous decade as a sturdy regional currency produced getting house much more pricey for foreign investors.

Overall, Dubai apartment and house sales prices on average fell 16 and 14 percent respectively in the first 11 months of 2015, CBRE estimated, forecasting additional declines in sale costs subsequent year.

Apartment rents were flat over the exact same period, although property rents dipped four percent, CBRE mentioned.

“The (rental) market has held up quite effectively but it does not inform the complete story,” mentioned Mat Green, UAE head of research at CBRE Middle East. “We have a really fragmented industry.”

He stated rental values in the city’s a lot more expensive districts such as Palm Jumeirah and Dubai Marina had fallen even though more affordable, peripheral places have noticed costs rise in 2015.

CBRE had forecast 20,000 units would be handed more than in 2015, but only about 14,000 will be delivered by the end of the year due to late payments by investors, issues in acquiring completion certificates and some developers opting against releasing units. Sales contracts allow for some delays.

“These who have some flexibility in their delivery pipelines will stall their delivery until rental or capital values of those units give much better returns,” said Nicholas Maclean, managing director of CBRE Middle East.

“Delivering they do not have a commitment to deliver these units, it is a sensible way of performing improvement. A essential weakness of some developments in Dubai in the last ten years or so was the lack of phasing in deliveries.”

CBRE estimates Dubai’s residential sector can absorb 20,000 new units each year just before vacancy rates increase.

“You’re seeing a a lot more pronounced influence this year, but there is usually going to be some slippage,” said Green.

He forecast sale rates would decline by about ten % in 2016, even though performances would differ markedly by district.

“Sales are driven by sentiment, outside influences, the currency circumstance, so you’ve a lot of external fundamentals influencing the investment selection, it’s not simple to forecast,” stated Green.

The UAE dirham is pegged to the dollar, which this year is up 9.2 percent versus the euro, six.6 percent against India’s rupee and two.eight % higher against the British pound. (Editing by David Clarke)

UK’s Cameron prepared to drop important EU welfare demand: reports

LONDON British Prime Minister David Cameron is ready to drop a demand to curb welfare benefits for migrant workers as he attempts to renegotiate the terms of Britain’s membership of the European Union, two British newspapers reported on Saturday.

The demand that European migrant workers wait 4 years ahead of claiming state benefits has so far been presented as a central plank of the new deal Cameron is in search of to clinch ahead of a referendum on whether or not to stay in the bloc or leave.

Observed as a way to lessen Britain’s attractiveness to migrants from poorer EU members in eastern Europe, a key domestic political situation in Britain, the welfare demand has been a single of the greatest stumbling blocks in the renegotiation procedure.

Citing government sources, the Telegraph and Independent newspapers reported that Cameron would tell fellow EU leaders in Brussels on Thursday that he was prepared to drop the program if they agreed on alternative measures to support minimize immigration.

A spokeswoman for Cameron’s Downing Street office said she had no immediate comment and was searching into the reports.

Dropping the demand, which has received in depth coverage in the British media, would be observed as an embarrassing climbdown and would likely antagonize the big and vocal eurosceptic wing of Cameron’s Conservative Party.

Each newspapers mentioned that while in Brussels for a European Council meeting on Dec. 17-18, Cameron would tell fellow leaders that the proposal would stay “on the table” till a greater alternative was found to address the immigration situation.

“What matters most is to fix the troubles, not the precise type of the arrangements,” the Telegraph quoted a Downing Street source as saying.

On a tour of a number of eastern European countries this week as portion of his renegotiation drive, Cameron found that his proposal on welfare was the most contentious situation for fellow heads of government.

Right after meeting with Cameron in Warsaw, Polish Prime Minister Beata Szydlo said they had not reached complete agreement on particular troubles, singling out the welfare advantages proposal.

Poland has been one particular of the primary beneficiaries of the EU’s principle of totally free movement considering that it became a member in 2004. Tens of thousands of Poles live and function in Britain.

Cameron has promised to hold a referendum on regardless of whether Britain should stay in the EU or exit the bloc by the end of 2017, despite the fact that it could take spot significantly earlier than that. He has stated his preference would be to stay in a reformed EU.

(Reporting by Estelle Shirbon Editing by Sandra Maler)

Agen Sabung Ayam

MIDEAST STOCKS-Gulf markets slip after oil cost drop

DUBAI Dec 6 Gulf markets declined on Sunday following a renewed slump in oil rates.

Brent crude dropped 2 percent on Friday to $ 43 per barrel after an OPEC policy meeting in Vienna failed to agree on a new production quota.

Dubai’s stock index declined 1.four percent, resuming trading following a 5-day holiday.

Emirates NBD see-sawed, obtaining been up more than 5 % in early trade before slipping 1.3 % lower as of 0908 GMT. Other monetary stocks also retreated, with Dubai Islamic Bank down 4.7 percent and Amlak Finance losing three.five percent.

Abu Dhabi’s index slid 1.1 percent. Etisalat , the newest Emarati constituent in MSCI’s emerging market index, tumbled five.2 percent following surging 10 percent the previous session.

National Bank of Abu Dhabi (NBAD) climbed five.two percent, obtaining dropped 11.6 % last week. 1st Gulf Bank rose 2.5 %.

The Qatar and Kuwait benchmarks every slipped .two percent. (Reporting by Celine Aswad Editing by Matt Smith)

Indonesia says crew action brought on crashed AirAsia jet to drop manage

JAKARTA Indonesian investigators said on Tuesday that crew action caused a loss of control and the stalling of an AirAsia passenger jet that crashed into the Java Sea last year, killing all 162 aboard.


The plane’s flight control computer had a cracked solder joint that malfunctioned repeatedly, including four times during the flight, and 23 times the previous year.

“Subsequent flight crew action resulted in inability to control the aircraft … causing the aircraft to depart from the normal flight envelope and enter a prolonged stall condition that was beyond the capability of the flight crew to recover,” the national transport safety committee said in a statement.

The Airbus A320 aircraft crashed less than halfway into a two-hour flight from the Indonesian city of Surabaya to Singapore on Dec. 28 last year.

(Reporting by Kanupriya Kapoor and Fergus Jensen; Writing by Michael Taylor; Editing by Clarence Fernandez)


Agen Sabung Ayam

China stocks open slightly reduced after most significant drop given that summer season rout

SHANGHAI Nov 30 China stocks opened slightly reduce on Monday following falling more than five % on Friday triggered by issues over a widening probe by regulators into brokerages.

The CSI300 index fell .1 %, to 3,554.89 at marketplace open, although the Shanghai Composite Index lost .1 percent, to three,433.86 points.

The industry posted its largest drop given that this summer’s rout on Friday on news that Haitong Securities was being probed by China’s securities regulator.

The Hang Seng index dropped .4 %, to 21,974.81 points. The Hong Kong China Enterprises Index lost .8 percent, to 9,778.05.

(Reporting by Samuel Shen and Kazunori Takada)